Lessons 7 Industry Enviroment

Question 1

it is the external environmental layer where the trends and
changes are easily and immediately felt by the business

Answer 1

industry Environment

Question 2

also known as the “operating environment

Answer 2

Industry Environment

Question 3

efers to the system or institution that handles the
affairs of a particular country. The Philippine government is both
presidential republican and democratic.
It promotes entrepreneurial ventures through its thrusts, programs,
and priorities

Answer 3

Government

Question 4

refer to the individual persons or companies that
provide the required materials, parts, or services to the business. They play a crucial role in the production of goods and servic

Answer 4

Suppliers

Question 5

are the buyers of goods or services produced or
rendered by the business

Answer 5

Customer

Question 6

are the forces existing in the industry environment that
produce, sell, or render products or services which are similar to those
of the business

Answer 6

Competitors

Question 7

2 types of Competitors

Answer 7

Direct Competitors and Indirect Competitors

Question 8

produce and sell similar products or service

Answer 8

Direct Competitors

Question 9

produce and sell substitute product

Answer 9

Indirect Competitors

Question 10

are the workers of the business who are highly
responsible for the production of goods or delivery of services to the
customers. They are the backbone of the business. They ensure the quality and quantity of products or services provided to
the customer

Answer 10

Employees

Question 11

refer to banks, financial institutions, and financial
intermediaries engaged in the lending of money to the borrower usually
for a fee or charge in the form of interest. They are the regulatory arm
for the flow of money in the economy. They provide the much-needed funds by extending credit to the busineess

Answer 11

Creditors